The Dubai International Financial Centre (DIFC) is a special economic zone established in 2004 in Dubai, [[United Arab Emirates (UAE)]]. It operates as an independent jurisdiction within Dubai with its own legal system based on English common law, separate from the UAE's civil law system. The DIFC serves as a major financial hub for the Middle East, Africa, and South Asia region. Key features include: - Independent regulatory framework and courts system - Own financial regulator ([[Dubai Financial Services Authority (DFSA)]]) - 100% foreign ownership allowed - Zero tax rate on profits for 50 years - No restrictions on foreign exchange or capital repatriation - Hosts major global financial institutions, banks, investment firms, insurance companies - Home to [[Nasdaq Dubai (formerly DIFX)]] - Uses English as its official language for business and regulation - Provides specific financial licenses for various business activities - Operates under a separate commercial legal framework from the rest of Dubai The DIFC has become a critical part of Dubai's strategy to diversify its economy and establish itself as a global financial center.